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geithner says the white house is ready to go over the fiscal cliff if tax rates on the wealthiest don't rise. investors looking for ecb guidance when draghi announces the bank decision later today. and stocks in europe are trading higher. aerospace giant has unveiled its ownership restructuring plans. apple and samsung are heading back to a californian courtroom today to renew their dispute. hearing starts at 4:30 eastern. samsung wants the court to toss out a jury verdict for patent infringement. apple wants to block some sales of samsung smartphones in the united states. apple suffered its worst day in four years and may be creediedi ground in the market. 417 companies in the s&p have a market cap below $35 billion. in frankfurt right now, apple stock down 3%. i'm afraid more bad news, as well, coming out of china. because apparently apple's rang in china smartphone market which will become the largest this year is down two spots to number six in the third quarter. suffering tough competition from chinese brands. this is according to idc. they say the u.s. market share in china unde
on capital, most regrettable. in a fiscal cliff free fall, tax rates on capital gains could rise to 24%. those dividends could increase to a whopping 44%. here now is former reagan economic adviser art laugher. how can you have capitalism without capital and why is there a war on capital, that includes cap gains, that includes dividends which will triple. it also includes the estate tax. why is there a war on capital? >> i have no idea, larry. i think it's just pure politics. but it's sort of lovely the words and looking them up. i understand that the french don't have a word for entrepreneur or laissez faire. [ laughter ] >> because they never use it. >> they never use it. economics is all about incentives. if you tax people who work, you pay people who don't work, don't be surprised if you find a lot of people not working. it's the rich issue here, which is just fascinating to me. if you tax rich people and give the money to poor people, you're going to get lots and lots of poor people and very few rich people. just look at what happened in britain two years ago when gordon brown rai
to avoid the fiscal cliff, which includes higher tax rates for the wealthy. house republicans are meeting with small business owners today as lawmakers are divided on how much they should compromise. we have the latest on the standoff in washington. >> good morning, guys. speaker of the house john boehner's new problem for the rest of this week is figuring out how to continue negotiations with the white house without losing his conservative base of support up on capitol hill. yesterday we saw senator jim demint go a little bit wobbly on the speaker of the house saying that the speaker had proposed an $800 billion tax increase that was going to damage the u.s. economy. now, interestingly enough, senator mitch mcconnell, the republican leader in the united states senate, said that he wasn't all that bothered by the republican house proposal. take a listen to what mcconnell said. >> i think it's important that the house republican leadership is trying to move the process forward. frankly, i had hoped we'd be accomplishing more in the real talks that are going on privately, but i can tell you
let our economy go over the fiscal cliff if a deal on higher tax rates for the wealthy is not reached? we're checking it out. back in a moment. [ male announcer ] research suggests cell health plays a key role throughout our lives. one a day men's 50+ is a complete multivitamin designed for men's health concerns as we age. it has 7 antioxidants to support cell health. one a day men's 50+. it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. >>> welcome back. this very public negotiation on the fiscal cliff still does not seem to be closing in on a deal. the white house out in campaign style events regularly, making multiple media appearances, kle including timothy geithner right here in 25 minutes. >> but would things be done faster if it was done privately? in his latest column, jeff goldfor a compares u.s. budget talks to merger proxy battles. jeff joins us to explain about that. plus, we have bob from jones day who
year's fourth quarter. the reason? the fiscal cliff. if we go off the cliff tax rates on dividends could go from 15% to more than 43%. companies are racing to beat the tax hikes by paying dividends before december 31st and some of the biggest beneficiaries, both insiders and ceos. mickey arison is getting $89 million from carnival giving him a potential tax savings. and larry elison is getting savings around $56 million. thomas frist at hca is getting around $350 million, saving him $100 million. and kkr and bain capital will get a big piece of the dividends. the king of all dividends is sheldon adelson who gets $1.2 billion from sands corp dividend and his tax savings alone could be $340 million. all shareholders benefit from dividends and many of the owners and ceos have recused themselves from the dividend votes, but these companies tend to have higher insider ownership. the average insider ownership of these dividenders is around 27%. it all shows that just the threat of higher taxes is causing companies and people to take next year's income today when they can. >> yeah. it's i
put the chance of going over the fiscal cliff? >> i think the odds are somewhere in the neighborhood of about 15 ch about 15% to 20% that we go over. but my hope is that we don't. >> what happens to the market if we go over? >> i think we are going over, first of all. and i don't really think that we can get a good solution unless the markets force the issue. so one way or another, i think we have a near term correction. it either comes before the end of the year and forces the politicians to compromise now, or the beginning of next year and forces them after -- >> when does the bond market notice? i don't even care about the stock market. >> if you think you're going over the cliff, about the only hedge out there is like 30 year zeros. because think about what will happen. you'll slow the economy. they'll go to rates you couldn't believe if we really go over full bore. if we go right over with no solution at all -- >> what happens if we get a long term solution to all our problems? >> the thing you have to be scared of with rates is the thing you always have to be scared of, the eco
Search Results 0 to 5 of about 6